Now could be a great time to get onto the property ladder

With property prices relatively low, now is the ideal time to buy your own home – particularly if you are looking at the higher end of the market.

This is the view of Michael Yardney of Metropole Property, who told News Limited that significant savings can be made on more lavish abodes.

Indeed, recent figures released by RP Data and Rismark showed that inner-city property prices have dropped by 4.4 per cent in the past year, which is great news for Aussies who are looking for the best deals on home loans.

This is in spite of claims by that high interest rates are currently scaring people away from getting their first foot on the property ladder.

"In most states the top-end market is definitely suffering and there are good bargains within the more expensive properties," Mr Yardney was quoted as saying, before adding that discounts of up to 20 per cent can be secured by house hunters at the moment.

However, he added that the apartment market is currently faring better, so fewer bargains can be found in this sector.

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